Hey g2285,
you wrote
"what is the deal? if they actually have some minerals somewhere, why arent they out there lowering their debt load?? someone should force them to work."
I think the situation is something like this.
They opened on the OTCBB with a property that had been partially proven. The values stated are somewhat low and according to their own info on the net they only drilled 4 holes into the Yellow Jacket deposit. This does not make a viable deposit. They then brought in a mineral consulting firm that took numerous surface samples that gave some descent assays but once again that is not drilling and proving a deposit. They did find gold. However with the limited work they did not have enough info to target a specific area in the mineralized zone.They never identified a high grade area to start mining that would boost profit at the beginning. As the company squandered the money from the stock and kept giving press releases about production that never came to be, the word was getting out that it appeared to be a pump and dump. Investors started fleeing and the price took a sever dump. Now it appears the company hasn't filed the proper SEC filings and appears that the SEC has halted all trading of the stock.
they have enteres Chapter 11 twice that I know of and booted out be a judge at lease once. During this time I saw in the registrations with the SEC at least one principal registering to dump his stock. And on and on and on.
What it comes down to is this.
Even if Galaxy were able to re-organize who would be crazy enough to invest in this company. To begin production on a limited scale of say 25-50 TPD you are looking at a cost that will be from $150,000-200,000 for the equipment plus wages and state and federal permiting. A judge is not able to force the ccompany to do this.
I believe that the stock holders should contact an attorney to see if fraud charges can be filed.
News 
Market Data 
Discover 
AI
